News and Updates

On December 20, 2019, President Trump signed into law a $1.4 trillion spending bill to fund the federal government through the end of its fiscal year (September 30, 2020). Attached to the bill was the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019; the first significant pension reform in a more than a decade.

On Nov. 7, 2019, the Department of Treasury and the Internal Revenue Service proposed regulations to update the life expectancy and distribution period tables used to calculated required minimum distributions (RMDs) from retirement plans and IRAs.

Vantagepoint has started the process of adding private alternative assets in its target-date and target-risk funds, becoming one of the first funds of their kind to help give defined contribution retirement plans access to private equity, private real estate, and other relatively illiquid investments that historically have not been available in these kinds of funds.

On October 23, 2019, the Department of Labor (DOL) released a proposed rule that would create a new voluntary safe harbor to allow employee pension benefit plans to communicate certain plan-required notices and disclosures electronically.

On November 6, 2019, the IRS announced the various adjustments applicable to retirement plan contribution limits for 2020.

More than 50,000 employees regularly getting updates through text feature

Transition from an annuity-only to open architecture platform will provide participants with greater choice and cost efficiency

Experts Discuss the Impact Ransomware Has on State and Local Municipalities

Ford, a dynamic leader of financial service organizations, will succeed the retiring Bob Schultze

Furry friends help remind us of some of the “Pawsitive” steps public sector employees can take to increase their savings for the future.

Recordkeeping model recognized for focus on retirement plan participants’ needs

ICMA-RC is pleased to announce that Rick Donley will join the corporation as Managing Vice President for Consultant Relations on Monday, October 7.

On May 23, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act, was passed by the House of Representatives in a near-unanimous, bipartisan vote of 417-3. The SECURE Act represents the first major piece of retirement legislation to be approved by the House since 2006.

Participants Can Now Engage Alexa for Retirement Account Information

Thirty-five daughters, sons, and wives of fallen firefighters, police officers and other public employees will receive ICMA-RC Public Employee Memorial Scholarships for the 2019-2020 academic year.”

Peggy Merriss, chair of the ICMA-RC Board of Directors, was inducted into the Georgia Municipal Association (GMA)’s Municipal Government Hall of Fame at the association’s recent annual convention. The award honors excellence in city government management.

On May 13, 2019, Senators Ron Wyden (D-OR), Maria Cantwell (D-WA), Ben Cardin (D-MD), Sheldon Whitehouse (D-RI), Maggie Hassan (D-NH), and Sherrod Brown (D-OH) re-introduced the Retirement Parity for Student Loans Act.

ICMA-RC Chief Information Security Officer Les McCollum was recognized for his outstanding accomplishments at the 2019 Salute to African Americans in Technology.

Core values, employee appreciation and overall benefits part of selection criteria

The House passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act by a 417-3 vote on May 23, 2019. Senate Finance Committee Chairman Chuck Grassley (R-IA) and Ranking Member Ron Wyden (D-OR) reintroduced the Retirement Enhancement and Savings Act (RESA) of 2019 on April 1, 2019. The overwhelming majority of provisions in both bills are identical (or very similar).

On May 14, 2019, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) reintroduced the Retirement Security and Savings Act, which includes more than 50 discrete retirement proposals.

Experts to focus on providing efficient services that benefit 403(b) clients

Facial and Touch Recognition Added for Quicker Account Access

Global Award Recognizes Information Technology Excellence

In December 2018, Senators Rob Portman (R-OH) and Ben Cardin (D-MD) introduced the bi-partisan Retirement Security and Savings Act. With the seating of a new (116th) Congress in January, this bill would need to be re-introduced to be further considered by Congress.